A digest of timely information and insight about finance, investing, and retirement.
The 5 most important things you need to know about the Brexit | Forbes
With 52 percent of the United Kingdom’s voting population choosing to leave the European Union, the world is reeling from the idea of an EU without the U.K. It will take years for the full ramifications of the Brexit to unfold, but there are some important things to know right now about such an historic decision.
Social Security will be there for you, millennials | Bloomberg
The Social Security Administration released its annual trustees report earlier in June, including the estimate that the Social Security trust fund will run out of money in 2034. But the program should still be able to pay three-quarters of benefits at that time and for decades afterward, backed by a steady stream of payroll taxes from future generations.
Are you on track for retirement? Do the math | Los Angeles Times
The answer to the question, “Am I on track for retirement” could quickly lead to a frustrating exercise. But thinking about the amount of money you’ve saved as a multiple of your final salary – or the retirement account multiple (RAM) – could be a more practical approach. This can help determine if your retirement savings are in decent shape, or if you’ll have enough to protect against even the worst that financial markets have offered in modern history.
5 must-have tech tools and apps for retirees | Time-Money
Forget the rocking chairs and early-bird discounts. What will really improve your life in retirement is an internet connection. New devices, apps and other software make it easier for retirees to stay healthy, live independently, and enjoy their lives to the fullest.
The sharing economy booms for boomers | CNBC
It’s not just young people who are taking advantage of the sharing economy. A Burson-Marsteller survey found that 28 percent of those ages 50 and older have used a sharing economy service, from escorted rides to living with roommates to pet sitting in homes abroad in exchange for a place to stay. The sharing economy provides older Americans with much needed income, achieved through a flexible schedule. At the same time, it satisfies a crucial need for older Americans – a group faced with dwindling retirement resources.
The money letter that every parent should write | The New York Times
An old-fashioned letter can be a way for parents or grandparents to pass along wisdom about how to handle financial affairs. If it’s written with enough soul, there’s a good chance that the recipient will keep it for a long time. Plus, it’s a literal conversation piece.
Trust fundA fund in which money and/or other assets are held and managed by trustees on behalf of plan participants. PERA maintains trust funds for each of its Defined Benefit Plan divisions (State, Local Government, School, Denver Public Schools, and Judicial).
